By Coco Alcuaz, ANC
MANILA, Philippines - The Bases Conversion and Development Authority (BCDA) denied it is terminating Manila North Tollways Corp.’s (MNTC) contract to operate the Subic-Clark-Tarlac Expressway (SCTEx). He confirmed terms are being reviewed but said this does not violate the sanctity of contracts.
BCDA President Arnel Casanova was reacting to news reports that quoted Manuel Pangilinan, chairman of MNTC owner Metro Pacific Investments Corp., as saying that BCDA informed the tollroad operator by letter that its 25-year contract would be terminated. Metro Pacific said it is drafting a statement it may release as early as tonight.
Read here
MANILA, Philippines - The Bases Conversion and Development Authority (BCDA) denied it is terminating Manila North Tollways Corp.’s (MNTC) contract to operate the Subic-Clark-Tarlac Expressway (SCTEx). He confirmed terms are being reviewed but said this does not violate the sanctity of contracts.
BCDA President Arnel Casanova was reacting to news reports that quoted Manuel Pangilinan, chairman of MNTC owner Metro Pacific Investments Corp., as saying that BCDA informed the tollroad operator by letter that its 25-year contract would be terminated. Metro Pacific said it is drafting a statement it may release as early as tonight.
Read here
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